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IRTI-ADFIMI-FFSA Joint Seminar on “Project Appraisal”, Hotel Jumbaktas, Astana, Kazakhstan, 26 – 28 September 2016

IRTI-ADFIMI-FFSA Joint Seminar on “Project Appraisal”, Hotel Jumbaktas, Astana, Kazakhstan, 26 – 28 September 2016




on “Project Appraisal”

held at Hotel Jumbaktas, Astana, Kazakhstan

on 26 – 28 September 2016



Investment decisions are important both for private and public entities. Goals for evaluation of investment projects include maximizing shareholders wealth for investors, maximizing social and economic benefits for the countries and ensuring the repayment capability from the lenders side. Project Appraisal is an indispensable part of development financing. ADFIMI joined its means with IRTI, Islamic Research and Training Institute of IDB, and FFSA, Fund for Financial Support of Agriculture of Kazakhstan, to organise this seminar for the Central Asian Region.

The seminar presented project appraisal methodology mainly from economic, technical and financial disciplines from a development and investment bank’s perspective. Evaluation process of investment projects were discussed regarding both the points of view of the investor and the lender. Within the program, environmental & social impact and risk assessment processes were highlighted. In parallel to global trends, sustainable banking practices were also presented.

Course instructors were managers from Industrial Development Bank of Turkey (TSKB) and provided insight coming from TSKB’s 65 years’ proven international experience and know-how. Case studies were dealt in the group to improve the understanding of project appraisal framework.


Tripartite Arrangements

A new MOU was signed between ADFIMI and IRTI on 09.08.2016. ADFIMI accordingly was responsible with the identification of the venue and resource persons. Upon mutual consensus, Hotel Jumbaktas was selected as the venue and three members of the staff of Industrial Development Bank of Turkey (TSKB) were identified as the lecturers of the seminar. Seminar syllabus was also mutually agreed upon by parties. ADFIMI entered into an agreement with FFSA in order to share the logistical burden. The flyer prepared by ADFIMI, gives the finally agreed schedule as well as the names, resumes, and subjects of delivery of the three resource persons from TSKB.


Arrangements with the Hotel

Upon the suggestion of Fund of Financial Support for Agriculture (FFSA), Hotel Jumbaktas was selected as the venue of the event.



Parties have announced the seminar to their respective institutions and one week prior to the seminar 24 applications were accepted of which four were identified by IRTI and nine by ADFIMI and eleven by FFSA. However, due to timely visa issuance constraints as well as indifference towards the programme by some central Asian country institutions, only 16 people from 5 different countries were able to show up at the seminar.

They represented 11 institutions from 5 countries (Kazakhstan, Qatar, Oman, Iran, Azerbaijan).



The seminar began as scheduled. Ms. Bakyt Kudasbayeva, Deputy Chairman of the Management Board, FFSA was the first speaker who represented Mr. Omarov, CEO of FFSA in his absence due to his sudden appointment with the concerned Minister. She emphasized the importance of Project Appraisal in development finance.

Mr. Rami Abdelkafi, Training Division, IRTI was the second speaker who thanked ADFIMI and FFSA for the cooperation in the organization of the seminar and the participants for their interest. He also described IRTI to the audience.

SG Nuri Birtek welcomed the participants and expressed his gratitude both to IRTI and FFSA for their support. He was somewhat dismayed by the low level of attendance.

Thereafter the seminar began by an introductory presentation by Ms. Yael Taranto, Manager-Senior Economist, TSKB who described TSKB, its history and its successful performance over the years. The seminar thereafter proceeded as scheduled and ended on 28 September 2016 at 17.00 hrs with a certificate ceremony.

English-Russian and Russian-English simultaneous translations were also provided to the participants.

In addition to lectures, there were intensive case studies on the third day using the excel sheets.


Social Programme

ADFIMI organized a gala dinner on 27.09.2016 between 19.30 – 21.30 hrs at a traditional Kazakh restaurant. 12 persons had taken part in the gala dinner.


Airport Transfers

ADFIMI provided gratis transfers between the airport and the hotel of residence for all overseas participants and lecturers.



The seminar was a success as evidenced by the evaluation of participants. The participants rated the speakers’ performances at an average of 80%.

Attendance and interactive discussion by the participants were very good.



ADFIMI thanks and appreciates cooperation with IRTI and FFSA. This event clearly showed how synergy becomes evident when three institutions join their means.

ADFIMI is keen and looks forward to organizing joint events with IRTI and FFSA in the future.


Nuri Birtek                                                                                                       

Secretary General



Click here for Flyer.


Date : 06 October 2016
SME Finance Forum
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